When a country specializes and trades with other countries, it is most likely that it specializes in goods for which

A) it has a comparative advantage.
B) it has an absolute advantage.
C) it has no advantage.
D) are very costly to produce.


Answer: A

Economics

You might also like to view...

If hiring a minority would drive away customers, then discriminating against that minority might increase profits for the business that is doing the hiring

Indicate whether the statement is true or false

Economics

The basic idea of maximization can be stated as follows:

What will be an ideal response?

Economics

Input productivity refers to the amount of output produced per unit of the input.

Answer the following statement true (T) or false (F)

Economics

In connection with laborers, the law of conspiracy meant that

(a) employers had every right to organize or conspire to keep wages low and prices high. (b) workers had every right to organize or conspire to keep wages high and working hours short. (c) workers could organize unions to promote their own interests as long as they did it publicly and in fair dealings with employers and did not "conspire" to do it in secret meetings not open to the public. (d) worker organizations aimed at promoting the economic interests of the members were illegal.

Economics